Massachusetts

Berkeley Partners Acquires Two Industrial Flex Properties Near Boston for $14.5M

by Alex Patton October 14, 2019

MARLBOROUGH AND BILLERICA, MASS. — Berkeley Partners has acquired two industrial flex properties near Boston for $14.5 million. The two single-building properties, which include 734 Forest Street in Marlborough and 35 Dunham Road in Billerica, total 120,796 square feet. Both buildings were 100 percent leased at the time of sale. Scott Dragos, Doug Jacoby, Chris Skeffington, Roy Sandeman, Anthony Hayes, Timothy Mulhall and Daniel Hines of CBRE represented Berkeley Partners in the transaction. The team also represented the seller, The RAM Companies USA.

October 14, 2019

Development Massachusetts Multifamily Northeast

Gables, Drew Co. Near Completion of 307-Unit Apartment Building in Boston’s Seaport District

by Alex Patton October 11, 2019

BOSTON — Gables Residential and Drew Co. are nearing completion of Gables Seaport, a 307-unit apartment building in the Boston’s Seaport District. The 23-story building will offer studio, one- and two-bedroom units, as well as an outdoor terrace, lounge and pool. CBT Architects designed the building, and Halvorson Design served as the architect for the roof deck and amenity spaces. The property is slated to open in March 2020.

October 11, 2019

Development Industrial Massachusetts Northeast

Dacon Completes 10,500 SF Headquarters Expansion Project in Taunton, Massachusetts

by Alex Patton October 11, 2019

TAUNTON, MASS. — Dacon Corp. has completed the design and construction of a 10,500-square-foot headquarters expansion for beer distributor Quality Beverage in Taunton, located approximately 30 miles south of Boston. The $1.8 million project comprised a ground-up construction of a climate-controlled warehouse adjacent to the company’s existing headquarters in the Myles Standish Industrial Park.

October 11, 2019

Leasing Activity Massachusetts Northeast Office

Shell TechWorks Signs 43,821 SF Office Lease in Boston

by Alex Patton October 10, 2019

BOSTON — Shell TechWorks, an entrepreneurial research division of oil and gas giant Shell, has signed a 43,821-square-foot office lease at Two Drydock, an office building currently under construction in Boston’s Seaport district. Skanska is developing and constructing the 230,000-square-foot, Class A office building, which is slated for completion by early 2020. The building will feature an 8,000-square-foot rooftop terrace and a 5,500-square-foot amenity space with a fitness center, lounge and bike space. Shell TechWorks will occupy floors five and six of the building.

October 10, 2019

Development Massachusetts Multifamily Northeast Retail

Callahan Breaks Ground on 610-Unit Multifamily Redevelopment Project Near Boston

by Alex Patton October 9, 2019

QUINCY, MASS. — Callahan Construction Managers has broken ground on a 610-unit multifamily redevelopment project in Quincy, a southern suburb of Boston. The Bozzuto Group and Atlantic Development are redeveloping the North Quincy Station bus depot and parking lot into a three-building residential property with 45,000 square feet of retail space as well as a 1,500-spot parking garage. The residential portion of the project will be delivered over two phases with the first units expected to be available for occupancy in May 2021. Units delivered in Phase II are slated to come on line in January 2022, with the entire project scheduled to be complete soon thereafter. Amenities will include two outdoor courtyards, a pool deck, club lounge, commercial kitchen and a fitness center with yoga and spin classes.

October 9, 2019

Acquisitions Industrial Massachusetts Northeast

Cushman & Wakefield Brokers Sale of 287,856 SF Industrial Property in Chelsea, Massachusetts

by Alex Patton October 4, 2019

CHELSEA, MASS. — Cushman & Wakefield has brokered the sale of 22 Willow Street, a 287,856-square-foot industrial property in Chelsea, a northern suburb of Boston. The asset is situated within an 8.4-acre industrial complex leased to 52 tenants across a variety of industries. Rob Byrne, Scott Gredler, Pete Rogers, Mary Kensinger, Phillip Verre and James Murphy of Cushman & Wakefield represented the seller, Everett Place LLC. The buyer was a joint venture between Berkeley Partners and the Seyon Group.

October 4, 2019

Development Massachusetts Multifamily Northeast Seniors Housing

Callahan Completes 225-Unit Seniors Housing Community Near Cape Cod

by Alex Patton October 4, 2019

BARNSTABLE, MASS. — Callahan Construction Managers has completed construction of The Everleigh Cape Cod, a 225-unit independent seniors housing community in Barnstable. The property comprises a four-story, 338,695-square-foot building with one- and two-bedroom units for residents aged 55 and up. The development features more than 17,000 square feet of recreational space, including a pool, dog park, pickleball and bocce courts, theater and a fitness center. The Architectural Team designed the property, and Greystar owns and manages it.

October 4, 2019

Acquisitions Massachusetts Multifamily Northeast

Capstone Brokers $28.8M Sale of Multifamily Property in Worcester, Massachusetts

by Alex Patton October 2, 2019

WORCESTER, MASS. — Capstone Apartment Partners (CAP) has brokered the $28.8 million sale of SkyMark Tower, a 206-unit apartment building in Worcester, located approximately 40 miles west of Boston. Completed in 1991, the property features one- and two-bedroom apartments and was 98 percent leased at the time of sale. Stasiu Geleszinski, Austin Green and A.J. Klenk of CAP represented the seller, VTT Management, in the transaction. The CAP team also represented the buyer, Benedict Canyon Equities.

October 2, 2019

Loans Massachusetts Northeast Office

EagleBridge Secures $5.2M Acquisition Loan for Office Building in Marlborough, Massachusetts

by Alex Patton October 2, 2019

MARLBOROUGH, MASS. — EagleBridge Capital has secured a $5.2 million acquisition loan for 33 Locke Drive, a 61,177-square-foot office building in Marlborough, located approximately 25 miles west of Boston. A regional financial institution provided the loan for an undisclosed borrower to purchase the two-story office building. At the time of the loan closing, the property was 95 percent occupied by tenants including Astellas Institute for Regenerative Medicine and Communication Technology Services. Ted Sidel of EagleBridge secured the loan.

October 2, 2019

Development Massachusetts Mixed-Use Northeast

Callahan Breaks Ground on 410,000 SF Mixed-Use Development in Amesbury, Massachusetts

by Alex Patton October 1, 2019

AMESBURY, MASS. — Callahan Construction Managers has broken ground on Maples Crossing, a 410,000-square-foot mixed-use development in Amesbury, located approximately 40 miles north of Boston. Developed by Global Property Development Corp., the 70-acre entertainment and lifestyle center will be anchored by six ice hockey rinks. The Daily News of Newburyport reports that the development costs $70 million and will also include an office building, restaurant and hotel. Andrus Architecture is designing the project, which is slated for completion by the end of 2020.

October 1, 2019

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